David Cameron kick starts entrepreneur scheme

James Caan, the businessman and Dragons Den investor, said a shift in public attitudes towards business meant that entrepreneurs were seen as “creative and exciting role models”Jo Hale/Getty Images

David Cameron will expand a government scheme to help young entrepreneurs today amid criticism that it was slow to get off the ground. An extra £30 million will go into the start-up loans scheme, which offers cash and advice to young people on starting businesses. The Prime Minister will also open the scheme to applicants under 30; initially it was limited to people aged 24 and under. Recipients of the Dragons’ Den-style loans have to persuade approved mentors that their ideas are fit for the marketplace.

Labour has criticised the scheme, launched in September, after a mere 43 loans were issued by the end of October, with a further 46 being assessed.

But Downing Street said that the rate of approval had shot up in…

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